For the month of July, 2011 there were 70 residential home sales at an average price of $309,586 in the communities in this Lakes Region real estate report. That’s actually a pretty good 14% bump over the 61 sales last July at an average of $262,390. I was getting a little concerned about the lack luster sales over the past several months, but this is certainly an improvement. On a rolling twelve month basis we stand at 743 sales as of 7/31/2011 with an average price of $338,626, a median price of $196,000, and average time on the market of 147 days. We are down a bit when compared to the 12 month period ending 7/31/2010 when we had 772 sales, but the average and median sales price came in a bit higher than the $307,881 and $191,650 values recorded last year. The average time on market coincidentally came in the same at 147 days. As usual, about half the sales for the month of July were under $200,000. But what else can you tell about the homes that sold?

Of the 70 sales for the month of July, 28 properties are clearly vacation type homes and 42 are what you would usually consider year round primary residences. There were 10 homes that sold under $100,000, 3 of those are vacation type homes leaving 7 as year round primary residences (although that could be stretching things a bit by the looks of some of them.) Of the 26 homes that sold between $100,000 and $200,000 there were 5 vacation homes and 20 primary type homes. There were 13 homes sold between $200,000 and $300,000 of which 6 were vacation homes. Between $300,000 and $400,000 there were 10 sales with 4 of those being vacation homes. Of the 11 sales over $400,000, 10 were vacation homes, although I am not quite sure on the largest sale of the month as at $3 million plus you’d think that the buyer would live there year round—but maybe not! I guess these numbers show that (1) vacation home or second home buyers are a big part of our market and (2) they are the ones with money.

Of those 70 sales in July, it appears that just 11 of those sales were bank owned properties. I’m not sure what that means other than it is good to see real people, instead of the banks, finding the buyers. Hopefully, those sellers are staying in the Lakes Region, buying another home, and helping to whittle down our huge inventory a little.

I reported a few weeks ago that one of the more knowledgeable and highly sophisticated agents in our office told me that planting red geraniums around a house would make it sell much quicker. “Guaranteed results” he said! I promised to keep you updated on this new technology and the listing that he had just put on the market. The owner planted geraniums all around his home and the place really looks great! Well, after a little over a month on the market the home has gone under agreement. Is this a coincidence? I think not. There has to be more to this than just luck. Is there something about the color of red geraniums that is irresistible to otherwise unsusceptible and difficult buyers? The agent told me that buyers viewing the home were overcome with a sense of joy and well being just coming into the driveway! I will be initiating a plan, dubbed “Code Red” on one of my new listings this weekend. Will keep you posted…

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There were ten waterfront sales  during the month of July, 2011 on Lake Winnipesaukee at an average price of $1.223 million. That’s up from the six sales on the big pond last July at an average price of $955,333. Half of the sales for both months were over the $1 million mark but this year’s average was bumped by a nice $3 million new construction sale on Governor’s Island in Gilford. For the year thus far, there have been 51 sales on Winnipesaukee at an average price of $1.162 million compared to 45 at an average of $1.211 million for the first seven months of 2010.

As often is the case, the least expensive sale on Winni was an island property and this time it was at 842 Rattlesnake Island in Alton. This 1987 post and beam cape and an adjoining guest cottage are connected by a large deck and have a total of 2350 square feet of living space including three bedrooms. The .92 acre lot offers some great views and has 150’ of frontage, a covered boat slip, and a sandy beach. This vacation get-a-way was priced at $499,000 and went under contract in just 15 days at $465,000. The current tax assessment is $485,300. Rattlesnake Island is two miles long and rises to about 400’ above the mean water level of the lake. The story goes that Rattlesnake Island was named after the abundance of rattlesnakes that used to make their home on the island. I read that the island was once set on fire to try and get rid of the snakes. But these buyers don’t have to worry as it has been many, many years since a rattlesnake has been seen out there. I believe they all slithered down to Washington some time ago. Isn’t it amazing when you can mix real estate, lake lore, politics, and geography all in one paragraph?

Just a short distance across the lake at 23 Viewpoint Drive in Wolfeboro a property willed to Massachusetts General Hospital also found a live one (some pun intended). The 1970’s vintage ranch and separate guest cottage are likely tear down candidates on this private 1.35 acre level lot that has 360’ of frontage, a sandy beach, a 60’ permanent dock and breakwater, and long range views. This property was on the market for 675 days starting at $2 million. It was eventually reduced to $1.5 million and sold for $1.4 million. The tax assessed value is $1.729 million so it seems like someone got a good deal, but Mass General got an even better one.

The largest sale on the lake for the month was a new construction by Skiffington Homes at 432 Edgewater Drive on Governor’s Island in Gilford. This 5,000 square foot, four bedroom, four and a half bath Adirondack lake home has four fireplaces, a first floor master suite, the requisite great room and gourmet kitchen, lower level walkout, bonus rooms over the three car garage, and the high quality fit and finish that Skiffington Homes are known for. This home sits on a prime 1.06 acre lot with 185’ of frontage, boat dock, and great long views. The purchase price of $3.1 million exceeded the asking price of $2.995 undoubtedly due to upgrades and changes requested by the lucky new owner.

Over on Winnisquam there was but one sale in July and that was at 24 Lakeside Drive in Belmont. This property is a 1924 square foot log home built in 1995 which has two bedrooms, two and a half baths, a living room with wood burning fireplace, lower level family room, 50’ of frontage, a sandy beach, and, most importantly, a boathouse. This home was originally offered at $524,900, reduced to $499,000, and sold for $470,000 after 240 days on the market. The Town of Belmont has the property assessed for $456,800. It looks like a neat place and I bet the buyer is having a great time this summer!

There was also only one sale on Squam and that was at 119 Keewaydin Road in Center Harbor. This 1971 vintage cape style home has 2,280 square feet of living space, three bedrooms, a finished family room in the basement, a three season porch, and a nice deck overlooking Dog Cove. The beautiful 1.08 acre lot is at the very end of the road and has 190’ of unspoiled frontage plus all the Squam Lake appeal imaginable. The new owners are planning to build their dream home on Golden Pond. This property was offered last year at $1.695 million, relisted at $1.299 million this year and sold for $1.105 million. The property is assessed for $1.61 million.

In the Three Stooges 1940 short film “No Census, No Feeling,” the Stooges are census takers (some say the census takers are now the stooges!). Curly answers a question about where he was born with “Lake Winnipesaukee.” When Moe asks him to spell it, he stammers a few syllables but blurts out “Make that Lake Erie. I’ve got an uncle there!”

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As the dog days of August heat up, there are 1412 single family homes on the market in the communities in this Lakes Region real estate report. That’s up from 1344 on the market last August 1. The average asking price is down from $539,186 last August 1 to $517,674. The median is also down from $279,950 to $269,000. The homes on the market represent a 22.8 month supply at the current sales pace. That, as you might guess, is also up from last August. Let’s hope that this great weather brings lots of tourist and potential home buyers to the area…we need them badly.

This steamy summer weather can create some real turnoffs for buyers that seem more pronounced when it is hot. There are also some simple steps you can take that would make your home more appealing if you are trying to find that all elusive buyer.

Probably the biggest turn off to a buyer is odor. You might have noticed odors only get worse in the hot weather. While the dog days of summer are not referring to dog (or cat) odors, it might as well be as far as real estate is concerned. Nothing will kill a showing quicker than pet odors on a ninety five degree day. Unless, that is, the homeowner is a smoker and likes to keep their home shut up tight for that enhanced second hand nicotine effect. Anyway, if you own pets, have your carpets shampooed, make sure the litter box and especially the back yard is kept clean (you really don’t want the buyers tracking stuff inside, do you?), and that you take the four legged children with you while the home is being shown. Some buyers, believe it or not, are afraid of dogs. A barking fido can also be a bit distracting when you are trying to show a home. Put some fresh flowers out or bake some brownies to create a pleasing aroma.

If you have air conditioning turn it on! Let’s show the potential new owner how comfortable your home is. He’ll not only know that you have air conditioning the minute he walks in but that it actually works. If you have a basement, you probably have high humidity down there creating sweating water pipes and increasing the possibility of mold growth. Basements can smell musty and moldy so why take that risk. A dehumidifier is a must in most basements in hot weather so if you have one turn it on. Creating a comfortable experience during a showing might just help you sell your place.

Let the sunshine in! Nobody likes to view a home in the dark with the shades all drawn. Open the curtains and blinds. Most buyers today are looking for bright spaces, not dark closets. Obviously, if you are going to shine some light on your home, make sure it is spotless.

Make sure your lawn is mowed. Having grass two feet tall is a sign that the home owner doesn’t take care of the property, not to mention it ruins the home’s curb appeal. Also keep the lawn watered to keep the grass green throughout the summer showing season. A brown, dead lawn is not going to help your curb appeal either. Make sure your plants and flowers look great and set them off with some fresh bark mulch in the beds. One highly experienced agent informed me that to make a home sell quickly have the owner plant lots of red geraniums. He said it is guaranteed to work. He just got a new listing and his sellers have planted them everywhere. The place looks fantastic! I am anxious to see if this works. It sounds better than burying a St. Joseph statue in the yard because you can at least see the geraniums. I’ll report back on the progress. If it works I’m going to start buying them for my clients…

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There were 77 residential home sales last month in the communities listed in this Lakes Region real estate market report. That’s down a bit from the 88 sales last June. But the average sales price came in considerably higher at $476,304 compared to $292,586 in June 2010. The higher average seems to have originated from a strong month in Moultonborough where seven sales closed in excess of $1 million. Not a bad month there with 19 sales at an average of $1,072,761! Laconia also had a pretty good sales tally with 16 homes exchanging hands. It appears that about a third of the sales for the month were waterfront or vacation type homes.

OK, I like really like milestones such as being halfway through the year. It seems to mean more when you can compare results for the first half of one year to another. Must be some sort of psychological thing or something. But it doesn’t mean you have to like the results. In the case of comparing our Lakes Region real estate sales for the first half of this year to last, the results aren’t great. It is another one of those glasses that are half empty or half full depending on your perspective. So here it is; for the first six months of 2011 there were 325 residential sales, which is 10% less than the 364 we had in the first half of 2010. The average price though is up from $298,945 to $328,294 so that’s on the plus side. We are also up compared to the first half of 2009 when there were 306 sales at an average of $254,071. So it’s kind of a couple of steps forward and one back…

Everybody today is getting a “smart phone”, an “Ipad”, or some sort of “tablet” to help them get through the technological and informational quagmire of the day. Then there are all these different “apps” that you can get for them that will do everything from telling you where to get the cheapest gas to what movies are playing where to following your stock market investments. There are also a lots of real estate apps available for these devices to help tech savvy buyers find information about homes. There’s a REALTOR.com app, Trulia and Zillow apps, a Smarter Agent app with a GPS, mortgage calculator apps, real estate vocabulary and dictionary apps, apps for home flippers (that must be a good one!), and apps to find rental properties. How’s that saying go? Whatever you need, “There’s an app for that!”

While all of this technology in the palm of your hand is amazing and quite helpful I am not sure where it is all going to end up. Information today is instantly available to home buyers in so many methods and formats that it boggles the mind. I think that we are all suffering a little from information overload. Sometimes there is so much info available that home buyers get caught up over analyzing the property that they want to buy. Maybe things need to be a little simpler? There needs to be a way to sort all of this information and make sense of it. Well now there’s an app for that, too!

The app is called “REALTORG”. That’s pronounced loudly as “RRRREEEEELLLLTOOOORRRGGG!” like the announcer in the ring at the World Wrestling Federation. Impressive, huh? This app is designed to take all the extraneous bits of jumbled information gathered by home buyers and uses a unique and patented common sense approach to sorting and enhancing the data. This app has been developed from years of real world experience. Imagine an app that can tell you so much more about a property than the limited factual property information you get from those run of the mill real estate apps! Things like; what’s around the property, is it in a nice area, what’s the condition of the home, do the pictures really reflect what the house looks like, or is the home a good value? It helps you make common sense decisions about buying or selling a home. That’s something other apps can’t do. This app could revolutionize the real estate world! And its free! It doesn’t download into your smart phone, I Pad, or “tablet”, but it is readily available to home buyers everywhere. This app is your local REALTOR® and he’s been around awhile so there are no bugs to work out. Call him for a 90 day free trial. Guaranteed no problems downloading.

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Yeah! Summer is really here. The temperature is heating up and it finally feels like it is lake weather. It’s time to get out on the boat and enjoy it. There were twelve waterfront sales sales on Winnipesaukee in June which is a 50% increase over June of last year. That’s pretty encouraging! And there were some large sales, too! In fact ten of the twelve sales were over the million mark. There were three sales in the $2-3 million range and one over $4 million. The average sales price last month was $1.778 million compared to $1.376 million last June and the total volume for the month was slightly over $21 million compared to $12.6 last June. That’s a pretty good month in my book.

The least expensive sale on the lake was at 13 Acadia Lane in Alton. This lakeside fifties vintage, 728 square foot, two bedroom cottage was a bank owned property that has had some recent updates including a metal roof and vinyl siding. The home sits on a one third acre lot with 100’ of frontage and a dock. The home was only on the market a month before some buyers jumped on it so they could enjoy the lake for the summer. It was priced at $385,000 and actually sold for more at $425,000. Sounds like there could have been a little bidding going on for this one. The current tax assessed value is $497,200 so it would seem that the buyer still got a good deal.

On the higher end pricing spectrum, across the lake in Moultonborough at 11 Mallard Way, there is a waterfront that is about ten times larger that also has a new owner. This Adirondack style home has 7,500 square feet of living space with seventeen rooms, six bedrooms, eight baths, and a whole lot of quality! This Skiffington home was built in 2004 and features post and beam construction, a gourmet custom kitchen, a fabulous great room with soaring ceilings, five fireplaces, a large family/game room on the walk out lower level, first floor master suite, a three room suite over the three car heated garage, and sweeping decks. The home sits on a 1.1 acre lot with beautiful landscaping, great sunset views, 156’ of frontage, a perched beach, and a covered dock. This home was originally listed on New Year’s Eve in 2008 for $3.999 million and again in September of 2009 for the same amount. It was listed again in November of 2010 for $3.495 million and sold for $2.9 million after a combined total of 750 days on the market. The current tax assessed value is $2,864,300. I wonder if there was confetti dropping and they were blowing horns when this one sold?

The highest sale on the lake last month was also in Moultonborough at 31 Wallace Point. This beautiful 10,000 square foot lodge style waterfront has fifteen rooms, seven bedrooms, nine baths, a grand living room with fieldstone fireplace, cathedral ceilings and exposed beams, a lower level family/pool room plus a lower level living room, and master suites on the first and second levels. This magnificent home sits on a professionally landscaped 1.89 acre lot with 235’ of frontage that has a sandy beach, two bay boat house, plus a permanent 58’ crib dock. As with many homes in this market, this one took a while to sell, too. It was originally listed in 2008 at $6.495 million, in 2009 at $5.295 million, in 2010 at $4.795 million, and this year at $4.495 million finally selling at $4.325 million after a combined total of 367 days on the market. The current assessed value is $3.639 million. Anyone see any trends here?

There have been a total of 41 Winnipesaukee sales for the first half of 2011 at an average of $1.172 million compared to 38 sales for the first half of 2010 at an average of $1.28 million. I’d say that’s holding our own in this economy!

Over on Winnisquam there were four waterfront sales with the largest being in Laconia at 126 Shore Drive This sixties vintage ranch had 3,900 square feet of living space, four bedrooms, three baths, a large living room, two fireplaces, and a family room in the walkout lower level. The one third acre lot has 100’ of frontage, a sandy beach, dock, and fabulous sunset views. This home was snapped up after one day on the market at the full asking price of $699,000 which is slightly above the current $665,000 tax assessment. A great deal in a great Winnisquam neighborhood. There have been thirteen sales on Winnisquam during the first half of 2011 at an average of $470,204 compared to just seven for the first half of 2010 at an average of $521,571. I’d say things are going pretty well on Winnisquam so far this year!

There weren’t any sales on Squam last month and only three sales through June 30th this year, but that is three more sales than the first half of last year. I’m not sure what’s going on up there but there are 24 homes on the lake for sale ranging from $399,000 to over $8 million so hopefully sales will pick up over the summer months. Maybe people have forgotten that the elusive lake trout “Walter” (or actually his descendant) is still out there. I read that “Walter” was brought over to Squam for the movie from a trout pond at the Castle in the Clouds. Ahhh, he wasn’t a Squamy after all…

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We are halfway through 2011. So is the real estate glass half empty or half full? If you are looking at the total number of listings in the twelve Lakes Region communities in this report, you’d have to say that the glass is way more than half full, it is actually overflowing. As of July 1, there were 1389 residential listings available. That’s up 8% over the 1277 homes that were available last July 1. That’s a lot of homes on the market. A 22.75 month supply to be exact. The average asking price is down from $551,288 last July 1 to $525,250 this July. The median price is down as well from $285,000 to $269,000. So while we have a huge glut of homes on the market which is bad, there is a huge selection for buyers to choose from at lower prices which is good. I get accused of being too positive all the time about our real estate market, so this time you get to decide if the glass is half full or empty…

With all these houses on the market and with so few selling there is no doubt that we sometimes see more homes expire in a month than actually sell. It’s just the nature of the market right now. It is extremely frustrating for sellers and agents alike. Sellers have to work hard to keep their home in show ready condition and agents work twice as hard marketing and showing the property. It is tough when there are so many homes available and so few buyers. It seems that the moon and stars need to be aligned just right to find a buyer. It also seems like it is always a question of is the house being marketed properly, is the house listed at the right price, or are there just no buyers looking right now?

When the listing term expires on a home there is a decision to be made by the owner. Should he continue with his existing agent or go find someone else? The answer to that question should be based on the performance of the listing agent and how the home was marketed. Most agents work very hard to get their listings sold. After all, none of us get paid unless we make a sale. Sometimes, a seller doesn’t understand how the agency markets his property or how much the agent actually does for him. But let’s assume for the moment that the listing agency and agent are doing everything they should be doing. And, no, that does not mean doing public open houses every week. That doesn’t work.

Then consider the price of the home. It is the owner that has the final say on price. Agents recommend, owners decide. Sometimes the homeowner just wants way too much. Sometimes he has no choice and has to price the home at a certain level so he can pay off the mortgage. And, in markets like this, it is can sometimes also be difficult for an agent to get the “right number” on a property as there are so few properties selling to get good comparables. Price adjustments may be necessary. Real estate is far from an exact science. But let’s say, for example, that a residential home has been on the market for five and a half months. It is listed a little higher than it really should be, but that’s where the seller says he needs to be. The seller authorized one decent sized price reduction after two months of little activity. The listing agent has marketed the property as promised. They’ve had sporadic showings with mostly good feedback on the property, but no offers. The agent has kept the seller informed about the state of the market and what has been done to try and sell the home. The agent suggests another price drop to create some activity and extending the listing for another term. The seller, while acknowledging the bad market, does not seem inclined to reduce his home further. That is, until he lists with another agency.

Anyone who has been a REALTOR® for a while has had this happen to them–probably multiple times. It is a well known axiom in our profession, that most agents would rather be the 2nd, 3rd, or even 4th agent that lists a property because the price will be closer to where it should be. It’s frustrating to agents that lose a listing because they feel they have worked their butt off and will never get compensated for that work. It’s exciting for the new agent as he has a better priced product to sell. I’ve been on both sides of the equation. My suggestion (to any sellers that might be reading this) is to really consider how much your agent has worked to sell your property and that, well, maybe it really is the price that’s the problem and not the marketing or the agent. If you are going to relist with another agency and keep the price the same that’s one thing. But if you are going to drop the price, consider keeping the listing with your current agent if he or she has done a good job for you. That’s good real estate Karma…

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With over 1,300 homes on the market right now in the Lakes Region towns I report on (Belknap County & Moultonborough) there ought to be some pretty good deals out there right now. It really is a great time to be a buyer. Interest rates are still amazingly low, there are plenty of homes in every price category to look at, and prices have fallen considerably. Here are a few properties that may, or may not, be a good deal. You can’t tell what’s a bargain until you go look, but given the fact that the following homes are on the market well under their tax assessment they might be a place to start.

Antique homes don’t seem to be as desirable as they once were, but they do have a certain allure to old home purists if they are in the right location and decent condition. The home at 543 Sanborn Road in Sanbornton is in the historic district. It was once owned and restored by Robert and Richard Wiggins who are well known for their work bringing antique homes back to life. This home was built in 1805 and has 2,426 square feet of living space with three bedrooms, two baths, two fireplaces, wide pine flooring, built-ins, updated kitchen, and an attached barn for the critters. You can get back to basics here although the .86 acre lot isn’t going to allow a huge garden. The property is now bank owned and there will be some repairs necessary. But, the property is offered at only $114,900 which is 44% of the current tax assessed value of $260,700. I would say someone is going to get a great deal on an antique home.

Another possible good deal on a bank owned property is at 14 Highcrest Drive in Belmont. This 3,048 square foot home was built in 1996 and has three bedrooms, one bath, an open concept layout, hardwood floors, front porch, two car garage, and a 1.23 acre lot on a cul-de-sac. It looks like it needs carpets, paint, appliances, and some good old TLC but it is priced at 46% of its assessment at $162,900. It’s certainly worth a look if you are in the market for a home in Belmont.

I like the looks of the home at 246 Durrell Mountain Road in Belmont. The good thing here is that it is not bank owned so you can get some history and disclosures on the property. This 2,036 square foot cape was built in 1988, has three bedrooms, one and three quarter baths, master bedroom suite, a stone fireplace in the living room, attached and detached two car garages, and a 3.74 acre lot. This home is listed at $199,900 which is 67% of the current assessment of $296,400. Good deal? Go see…

There are also some potential waterfront buys out there. On Waukewan there is a very affordable sixties vintage waterfront cottage at 25 Chapman Point in Meredith. Waukewan is a real hidden treasure so don’t tell anyone else about this. Anyway, this seasonal two bedroom, one bath cottage has a little over 1,000 square feet of space, a large eat in kitchen, a fireplace to take the chill off, a deck overlooking a peaceful cove, and a one car garage which has a bunkroom for the in-laws. The cottage sits on a .27 acre lot with 100 feet of owned frontage and you have access to a shared sandy beach next door (not sure what other kind of beach there is if they aren’t sandy?) This property is offered at $349,000 which is 21% below the assessed value of $440,500.

Over on Winnipesaukee at 17 Chipmunk Lane in Moultonborough there is another cottage with three bedrooms, two and a half baths, and 964 square feet of living space being offered at $425,000. It has a master suite (sweet!), a large living room, a gas fireplace, a sunny kitchen, and a detached two car garage with possible living space above for your new found relatives. The cottage sits on a .39 acre level lot with 100 feet of frontage with another one of those sandy beaches and a three fingered dock. This property is priced at 66% of the town’s current assessed value so it just might be worth checking out.

So if you are looking to buy a home, you’ll find plenty of potential bargains. Meet with a REALTOR® and go look. Just remember though, a cheap price alone doesn’t mean that it’s a good deal. You need to consider the repairs or upgrades that need to be done to the property, the all important location, location, location, and whether the home really fits your needs and lifestyle. Don’t just buy the least expensive home, buy the best home for you at the best price possible. That’s a real bargain…

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For the second month In a row, residential home sales in the Lakes Region of NH were down a bit compared to last year’s sales. We have been hitting 65-70 sales in May for the past four years, but last month there were only 58 homes sold at an average price of $275,900. On a rolling twelve month basis ending May 31, 2010, there were 745 sales at an average price of $315,235 compared to 765 sales at an average price of $306,823 for the 12 month period ending May 31, 2010. That’s still not bad (I have to say that). Unfortunately, we can’t blame the lack of sales on the snow anymore, so I guess we’ll have to blame it on high gas prices and the consistently bad news we hear on the television every day. We may be turning the corner, but it sure is a long sweeping one.

My wife and I took a few days off and went down to Nantucket last week. We had never been there and thought it would be a good place to check out. It was nice to have a few days of R&R checking out the shops, beaches, and real estate. Nantucket is more beautiful and amazing than we had ever envisioned. The downtown/port section is steeped in whaling history. Its narrow cobblestone streets are lined with widow’s walk topped ship captain’s mansions, quaint shops, and restaurants. Many of these homes date back to the 1800’s and the pride in ownership really shows throughout the town. They say that little has changed and a sailor off a 19th century whaling vessel would be right at home here…except for maybe all the tourists and taxis. The entire island is considered a historic district with over 800 houses built before the Civil War.

The beauty of the island and the beaches are best seen from a rented car. This 47.8 square mile island has 82 miles of pristine beaches to visit, 25 miles of bicycle paths, and great golfing to enjoy. It’s really a laid back place, like an island should be. What really struck me, though, was the real estate. If you’re looking for a grey shingle style home this is the place to come as that is pretty much the only style home you’ll find. There are lots of little shingle cottages and neighborhoods of grey shingled residential homes. But, mostly, there are huge waterfront or water view homes and estates…everywhere. Seems like a thousand of them, all grey, all shingled. It could get downright confusing on a dark night.

I picked up a local real estate magazine and quickly realized I was in a totally different world compared to the Lakes Region. I kind of knew that going down there and it was reinforced on the ferry ride over. I could smell money from about three miles off shore. We certainly have nice upscale homes and waterfront estates on Winnipesaukee, but this was something a notch or two above. There were very few homes in that real estate book under $1 million. We did check out a couple of cheap foreclosures in the $800,000 range and one looked like it might bring $200,000—it is all about location, location, location. It is also hard to just drive around and check out what’s on the market as real estate For Sale signs are prohibited on the island!

According to Nantucket REALTOR®  Brain Sullivan of Sotheby’s, since January 1 there have been 101 closings of real estate on Nantucket (including condos, land, single family, and foreclosures) at an average price of $1.267 million and a median price of $852,500 (remember our residential sales average was $315,235 and the median was $193,000 over the last 12 months). As of mid-May, he noted that “There are 33 properties that have purchase and sale contracts signed with an average price of $2,301,152. The rise in the average price is a sign that the vacation market sales have begun.” According to the real estate website Truila, the average price per square foot for a Nantucket home is a whopping $765. Nantucket’s total real estate value is $17,208,429,905 compared to $10,213,400,613 for all of Belknap County or $12,213,400,613 for Carroll County. Nantucket has the fourth highest property value in Massachusetts behind Boston, Cambridge, and Newton. Currently, Nantucket’s tax rate for residential property is only $3.58 per thousand of assessed value.

So if you haven’t been there, I’d recommend even a day trip to check it out. Just don’t think you’re going to find that inexpensive, run down, grey shingled little cottage anywhere on this island. But I guess “inexpensive” is just relative, isn’t it?

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There were just four sales on Lake Winnipesaukee in May 2011 but that does equal last May’s tally although the average sales price was lower at just $1.053 million compared to an average of $1.727 last May. Last May there were three sales over a million, one of which came in at $3.9 million helping to boost that average.

The least expensive sale on Winnipesaukee last month was at 20 Railroad Ave in Alton. This is an updated two bedroom, 744 square foot seasonal camp sitting on a .16 acre lot with 40’ of waterfront. The big selling feature here is that this small cottage has really big, panoramic views from the large deck. This lakeside retreat was listed at $429,000, reduced to $389,000, and sold for $355,000 after 266 days on the market. The current tax assessment for is Alton waterfront is $401,500.

Another completely renovated waterfront home at 177 Kingswood Road in Wolfeboro also attracted a new buyer. This 1980 vintage, 3,400 square foot, three bedroom, five bath contemporary home was put on a new foundation and stripped right down to the studs. The only thing reused were the beautiful fir floors. Everything else is new-inside and out. The home features a custom kitchen with beautiful cabinetry, granite countertops and stainless steel appliances, a lakeside living room with gas fireplace, a family room in the walk out basement, and three bedrooms all with private baths. The home sits on a level one acre lot with southern exposure and gorgeous views. There is 119’ of frontage, a sandy beach, and a forty foot dock for the new owners to enjoy now that summer is finally here. This home was on the market for 305 days starting at a list price of $1.995 million, with several price reductions down to $1.595, with an offer accepted at $1.47 million. The current tax assessment for this property is $1.352 million.

The largest sale for the month was at 112 Hopewell Road in Alton. This is a 3,192 square foot, four bedroom, three bath, classic lake home with a large wrap-around porch that is perfect for telling tales on. The home was built in 1999 on a 2.18 acre lot on Roberts Cove that offers great privacy, westerly views, stunning sunsets, 296’ of frontage, plus a U-shaped dock with breakwater. The tale of the sale on this home is a long one. It was first offered in December 2005 at $3.9 million, in October 2006 for $2.995 million, in 2008 for $3.1 mil, and in 2010 for $1.6 as a short sale. This year it was listed for $1.595 million and found a buyer at $1.5 mil after 168 days. The listing doesn’t say that it was a short sale, but the fact that it was under contract for only 39 days before closing would mean that it wasn’t. It probably just felt that way to the seller…The property is current assessed at $1,46,200.

Over on Winnisquam there were five sales which is actually a banner month for this lake! That puts the tally for the first five months up to fifteen sales compared to ten for the same period last year. Three of the five sales occurred on Leighton Ave in Laconia which is a little unusual. The largest sale was at 140 Leighton Ave North in Laconia. This Japanese influenced contemporary home built in 1980 has 1,580 square feet of living space, three bedrooms, two baths, a massive stone fireplace in the living room, a sauna, and a newly remodeled kitchen with granite countertops, cherry cabinets, and Jenn–Air appliances. The home literally is on the water as the decks actually overhang the lake. You can imagine how great the views are! The house sits on a .85 acre lot with 369 feet of frontage. There is even a Japanese Tea House straddling a babbling brook that is accessed by a small bridge. Kind of makes you want to watch a rerun of Karate Kid. It was a bit of a struggle to get this property sold. It was listed originally in 2009 and 2010 at $799,000 and at $749,900 this year. It was reduced to $649,000 with a deal accepted at $605,000 after a total of 977 days on the market. The current tax assessment on this property is $645,200. I bet the former owner was happy to finally say “Sayōnara” to this one…

Right now there are about 275 waterfront properties available on Winnipesaukee and 27  on Winnisquam from as little as $189,000 to just over $10 million with lots of deals in between. Maybe you can find your own great deal on the water this summer!

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It is not surprising that the single family home inventory in the Lakes Region has increased as of June 1. It does every year. The level is a tad higher than last June with 1292 homes on the market at an average asking price of $539,520 and a median asking price of $275,000. That compares to 1256 listings last June at an average of $578,520 and a median of $299,000. So the total number available is up and prices are down a little. That seems like it is consistent with the national picture—but hopefully, not quite as bad. The backlog of homes on the market equals almost 21 months worth of inventory. It seems like only a short time ago we had whittled the level down to about 12 months.

It is also not surprising that CQ Press, an independent publishing firm, recently announced that NH has once again been named the “Most Livable State in the Nation” for 2010. It’s almost like old news now and kind of expected. We’ve been ranked in the top five for six years in a row and that’s pretty amazing and hard to accomplish. It is kind of like Jimmie Johnson winning five straight NASCAR championships and now going for his sixth. It’s never been done before. I think a lot is us take our lifestyle for granted because it’s just normal for us.

CQ Press base these rankings on 44 factors that reflect a state’s quality of life including median household income, crime rate, state business tax climate, employment, education, and even how many days of sunshine there are. Given the fact that the sun hasn’t shown too much in 2011 so far, we are going to have to work extra hard this year in other areas to repeat. New England, in general, faired pretty well with Vermont coming in 8th on the list, Massachusetts 13th, Connecticut 11th, and Maine ranking 20th. Mississippi came in dead last, as it has for nine of the last ten years, and given the flooding these poor folks have had to deal with this year they will likely come in 51st for 2011.

My broker has put together a long list of accolades and achievements about NH which is commonly referred to as the NH Advantage. Here is just a sampling:

• NH is the #1 state for retirement in the country according to moneyrates.com based on cost of living, unemployment rate, tax burden, climate, crime rates, and life expectancy.

• We are rated the best place in the nation to raise children according to the National Kids Count Survey.

• NH has the lowest poverty level in the country and the highest median income in the nation according to the US Census Bureau (they must have mistakenly omitted real estate agents)

• We have the 2nd best insurance rates in the country

• We have the lowest crime rate in the nation according to the FBI

• NH has one of the lowest tax burdens (8% of income)in the nation (yes, I know our property tax rates suck)

• NH has the third healthiest real estate market in the nation according to Lending Tree

• Lake Winnipesaukee was ranked the #1 retirement place in the country under the category “leisure living for recreational and cultural opportunities” by MacMillanTravel.

• Ranked top in New England for the “best state for business” by Forbes Magazine

So as we head into our summer tourism season, keep in mind that you should be kind to all of the visitors in our beautiful state no matter how badly they drive. They are not used to seeing such amazing scenery, gorgeous lakes and mountains, and so many people happy about where they live…